Dollar and Euro Soar in Cuba's Informal Market Amid MLC Decline
The dollar and euro are experiencing an upward trend in Cuba's informal currency market. According to recent data, the U.S. dollar has risen to 670 Cuban pesos (CUP), up two pesos from yesterday's rate of 668 CUP. This represents a seven-peso increase over the past week, with prices fluctuating between 663 and 674 CUP over the last month.
The euro is also seeing an increase, now valued at 760 CUP, up from 758 CUP the previous day. Over the past week, it has risen by 10 pesos, previously trading at 750 CUP. The MLC (Freely Convertible Currency), on the other hand, has experienced a decline, dropping to approximately 458 CUP, down 13 pesos from its previous rate of 471 CUP.
The disparity between informal and official exchange rates continues, with the Central Bank of Cuba's official rates lagging behind those in the black market. The dollar is currently trading at 636 CUP and the euro at 741 CUP according to the official exchange rates set by the Central Bank.